Greece is an “integral” part of the eurozone, the leaders of Greece, France and Germany said in an emergency teleconference Wednesday night that aimed to calm markets and temper talk of an imminent default by Greece.
German Chancellor Angela Merkel and French President Nicolas Sarkozy also stressed to Greek Prime Minister George Papandreou “that it is more indispensable than ever to fully implement the decisions adopted July 21” by the eurozone leaders “to ensure the stability of the eurozone,” the French president’s office said in a statement.
Papandreou committed to meet deficit-reduction targets demanded as a condition for an international bailout
Sarkozy and Merkel “are convinced that the future of Greece is in the euro zone,” the French statement said.
“In light of the rumours of recent days, it was stressed by all [on the conference call] that Greece is an indivisible part of the” euro zone, government spokesman Elias Mossialos said in a statement.
The statement added that Greece was determined to meet all its commitments to its European and international partners and that recently announced measures to downsize the public sector and levy new taxes would help the country meet its budget goals.
“The decisions which were taken by the cabinet in the last few days, and the additional measures that were announced, will lead to the achievement of the fiscal targets for 2011 and 2012, and to the creation of primary surpluses,” the statement said.
(source: AFP, AP, Dow Jones)
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